REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Scott D. Comstock

scott@homesandwealth.com +1(559) 681-9500

Listed by Nate Gustavson • Compass, DRE#01898316

$ 9,450,000

Est. payment | -/mo

1 Bed

1 Bath

24,592 SqFt

Save

$ 9,450,000

Est. payment | -/mo

Save

1 Bed

1 Bath

24,592 SqFt

Key Details

Property Type Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 24,592 sqft

Price per Sqft $384

MLS Listing ID ML82050464

Bedrooms 1

Full Baths 1

Year Built 1960

Lot Size 0.573 Acres

Property Sub-Type Five or More Units

Property Description

Knights Inn Apartments, located at 100-106 N. Bayshore Boulevard in San Mateo, presents a rare 38-unit multifamily investment opportunity in San Mateo. The property offers a unit mix of thirty-four (34) studios (~381 sqft) and four (4) 1-Bedroom/1-Bath units (~570 sqft). Constructed in 1960 and situated on a 24,944 sqft lot, with approximately 24,592 sqft of gross building area across two (2) buildings. SB-721 COMPLIANT, BALCONY REBUILD COMPLETED, eliminating a significant capital expenditure obligation and providing investors with a clean compliance profile at close. The property further features a secured fenced-in pool, on-site coin-operated laundry, and 36 covered carports + 4 uncovered assigned spaces. Gas and electric utilities are master metered for each building, presenting a direct value-add opportunity through implementation of a Ratio Utility Billing System (RUBS), a strategy not currently utilized under existing ownership. The pro forma reflects an estimated $45,600 in additional RUBS income upon implementation.Current rents averaging approximately $1,610/month for studios and $2,085/month for 1-Bed/1-Bath units reflect meaningful upside to market rents of $2,100 and $2,395 respectively, as validated by the nearby Country Club Apartments at 420 N. Bayshore Boulevard.

Location

State CA

County San Mateo

Area North Shoreview / Dore Cavanaugh

Building/Complex Name Knights Inn Apartments

Zoning Commercial Multifamily

Rooms

Kitchen Countertop - Marble, Oven Range - Electric, Pantry, Refrigerator, Varies by Unit

Interior

Heating Wall Furnace

Cooling Ceiling Fan

Flooring Laminate, Vinyl / Linoleum

Laundry Coin Operated

Exterior

Parking Features Assigned Spaces, Carport , Off-Street Parking

Pool Pool - Fenced

Community Features Community Pool

Utilities Available Individual Electric Meters, Individual Gas Meters

Roof Type Flat / Low Pitch,Tar and Gravel

Building

Foundation Concrete Slab

Sewer Sewer - Public, Sewer Connected

Water Public

Others

Restrictions None

Tax ID 033-171-150

Security Features None

Special Listing Condition Not Applicable

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(559) 681-9500

scott@homesandwealth.com

Serving ALL of California, United States

GET MORE INFORMATION

100-106 N Bayshore BLVD San Mateo, CA 94401